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India Rupee Falls As Weak China Data Sours Risk Sentiment

14 January 2019 / Morning Brief

Indian Rupee

  • The Indian rupee little changed at 70.48 pair now at 70.64 against 70.4850 previous close.
  • Pair to tip in 70.45- 71.00 range today.
  • The Indian rupee was trading lower against the dollar on Monday amid losses in most regional currencies after China’s exports and imports recorded an unexpected decline. The rupee is struggling between Brent crude falling below $60 a barrel and worries that global growth worries will hurt portfolio flows While global equities had jumped last week, it was more so on account of the dovish Fed. Concerns on the outlook for growth very much remain.

Global Currency

  • The dollar rose against most of its peers on Monday, although heightened investor expectations that the Federal Reserve will not raise rates this year are most likely to cap the greenback's gains. Fed Chairman Jerome Powell reiterated last week that the U.S. central bank has the ability to be patient on monetary policy given that inflation remains stable.
  • Data on Friday showed that U.S. consumer prices in December fell for the first time in nine months in December. euro EUR= fell around 0.1 percent to $1.1460. The single currency lost 0.3 percent on Friday after data showed that Italy, the euro zone's third- largest economy, was at risk of recession. yen JPY= was at 108.40, marginally stronger versus the dollar.

Global Markets

  • Oil prices fell by almost 1 percent on Monday, with Brent crude slipping below $60 per barrel, after Chinese data showed weakening imports and exports in the world's biggest trading nation and second-largest crude oil consumer.
  • Gold prices climbed on Friday as the dollar fell back on expectations the U.S. central bank may pause interest rates hikes if the U.S. economy slows this year, while investors awaited news on progress in the Sino-U.S. trade talks.

Global Markets at one Glance

Markets Today In INR % Change
USD/INR 70.8125 70.83 0.61
EUR/USD 1.14772 81.28 0.69
GBP/USD 1.28452 90.97 0.68
USD/JPY 108.097 0.65 0.93
SEK/INR 8.9369 7.9236 0.044
DKK/INR 6.3211 11.2025 0.0325
AUD/USD 1.3921 50.86 0.45
1M 2.50894 -0.41843  
3M 2.78731 -0.32857  
6M 2.86463 -0.29686  
1Y 3.01869 -0.172  
Index Today % Change
NIFTY 10718.95 -0.7
SENSEX 35769.44 -0.67
BANK NIFTY 27242.25 -0.77
SGX NIFTY 9347.5 0.33
NIKKEI 20359.7 0.97
HANG SENG 26299.19 -1.38
SHANGHAI 2539.5938 -0.56
ASX200 5775.5 0.02
DOW JONES 23995.95 -0.02
S&P500 # 2596.26 -0.01
NASDAQ # 6601.395 -0.3
Key Events of the Day
Date Time Currency Event Forecast Previous

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